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Business Plan Timeline 20110825 v3

Remember to consider your audience o who do you need

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Remember to consider your audience o Who do you need to propose your business to? o What are you proposing to them? Why? C. Team-to-team presentation (11/22) Teams will rotate around room pitching their ideas to each other Designed for more informal feedback Class alumni and alumnae will also be present to provide fresh perspective Should be the final tune-up of business model and idea D. Final Assessments (note due date for rough draft on 11/29) a. Business Plan Presentation (due 12/1) 1. Submit a 10-15 minute Powerpoint Presentation that does the following o Attracts interest in your business plan o Addresses the need for the business o Presents a clear strategy for business development o Proposes a request and plan for financing o Gives people confidence in the people behind the plan 2. Be prepared to answer questions about your business plan—the ultimate goal is to have the investors ask “when can we schedule a follow-up meeting?” so try to cover enough of the issues at least to pique their interest. 3. Powerpoint Tips o See Guy Kawasaki’s The 10/20/30 Rule of PowerPoint at http://blog.guykawasaki.com/2005/12/the_102030_rule.html o Avoid putting too much information on one slide (see Seth Godin’s Really Bad PowerPoint http://www.sethgodin.com/freeprize/reallybad- 1.pdf ) o Illustrate what you can with diagrams and graphs o Present numbers clearly o Don’t put anything in the presentation that you can’t answer questions about b. Written Business Plan (draft due 11/29, final due 12/6) 1. In general, remember to provide a detailed business proposal that does the following: o Demonstrates the need for the business o Addresses the needs of the business o Defines an operations and expansion strategy o Simulates financials o Communicates the need for financing o Outlines an exit strategy o MAKE SURE YOU READ “BUSINESS PLAN MISTAKES TO AVOID” ON MYCOURSES Warshay ENGN1930x 91a264a04eea9d065aba15ab9a23f98de94c12be.doc 3
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o ALSO LOOK AT SAMPLE PLANS 2. Executive Summary o Keep it short—no longer than a page o This is the most important part of your business proposal—it is designed to attract interest o Demonstrate why you are a Purple Cow o See Guy Kawasaki’s The Art of the Executive Summary at http://blog.guykawasaki.com/2006/04/the_art_of_the_.html 3. Company Description o Have a clear description of your business proposal o Outline overt benefit, dramatic difference, real reason to believe 4. Market Research and Analysis o Consider your competitors o Who are your direct competitors? Indirect competitors?
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